Geri Anasayfa

Detay


The Effects of Non-Renewable Energy, Renewable Energy and Nuclear Energy Consumption on Economic Growth in EU Member States and Candidate Countries

Abstract
The economic crisis, which started with the rise of energy costs in the 1970s, revealed the importance of energy for a sustainable economic growth. In this process, the concepts of nuclear energy and renewable energy have come to the fore and have been the subject of academic studies. In this context, the aim of the study is to test whether there is a relationship between economic growth and non-renewable energy consumption, renewable energy consumption and nuclear energy consumption. Between the years 2007-2016 of the 14 member countries of the European Union and candidate countries, the relationship between GDP and non-renewable energy consumption, renewable energy consumption and nuclear energy consumption was tested by dynamic panel difference GMM and system GMM data analysis. According to the results of the analysis, it was found that renewable and renewable energy consumption had a positive and significant effect on GDP and that nuclear energy consumption had no significant effect on GDP. According to GMM and GMM system, the effect of renewable energy consumption on GDP is higher than other variables.

Keywords
Economic Growth, Non-Renewable Energy, Renewable Energy, Nuclear Energy, Dynamic Panel